Barclays CEO wants tax cuts for savers

LONDON (Reuters) - Barclays' (BARC.L) Chief Executive John Varley said that savers should be given tax breaks to compensate them for low interest rates, reports the Daily Telegraph in its Thursday edition.

"The most important issue for lots of our customers is how can we ensure, if we are savers, that we get an appropriate return on that saving," the paper quotes him as saying.

"Now that may mean as rates have come down -- and they may go lower -- that the government needs to create a tax incentive for saving."

The Bank of England cut interest rates this month to 1.5 percent, the lowest ever.

(Reporting by Ben Deighton; Editing by Bernard Orr)